Texas Women's Foundation highlights $60 billion wage gap, urges action on equal pay
The foundation's new white paper, Texas Women and the Wage Gap: A Corporate Leader's Guide to Driving Workforce Sustainability, notes that the wage gap has increased since 2019 to $60.1 billion annually in lost earnings and lost economic productivity for the state.
Karen Hughes White, the President and CEO of the Texas Women's Foundation, said the data was released intentionally on March 25, often recognized as Equal Pay Day.
"The Equal Pay Act was passed in the 1970s, yet we are still discussing pay for equal work," she said. "The urgency around this now is that women comprise 46% of the Texas workforce and that's growing."
Read the full report
here
.
"Over a lifetime, the average Texas woman stands to lose $750,000 in lifetime earnings. That's game-changing for women," Hughes White said.
Hughes White said the designation for Equal Pay Day represents the amount of extra time women have to work in order to earn as much as men did in the previous year.
"The most shocking part of the data is how the age gap widens based on women's education. In Texas the more educated a woman is, the wider the wage gap is, [but] If we could just cut that wage gap the same as men with advanced degrees, it would actually cut the economic impact of the wage gap in half for equal work. We've been asking a long time."
Hughes White said for the average Texas woman, the ever-widening gap can impact her ability to achieve long-term economic security, stability and success for herself and her family.
According to Hughes White, that is not the only barrier for women to participate consistently and fully in the Texas economic landscape.
While the equal pay date is tied specifically to white women, Black and Hispanic women typically work much longer to achieve equal pay.
"The Texas economy which is [among] the largest and the strongest in the nation, is increasingly dependent on women to drive its success. The time is now for change and the time is now to act," she said.
Texas Women's Foundation offers statewide research on the issues impacting Texas women and girls and provides corporate, state and local decision-makers and lawmakers with critical data to inform policies, practices and programs across the state.
Hughes White said one way the foundation works to raise awareness around the wage gap across North Texas is by offering practical tools for women to pursue pay equity.
"When people know the issues, we can solve the issues, it's going to take all of us to do it," she said.
The foundation will offer
salary negotiation workshops
on April 17 and May 15.
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